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FXCM vs Interactive Brokers 2019

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Is FXCM better than Interactive Brokers? After assessing forex brokers on nearly 100 different variables, FXCM is better than Interactive Brokers. While its range of tradeable markets is narrow, FXCM caters well to high-volume traders, algorithmic traders, and traders that appreciate robust charting tools and quality market research.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Overall Rating

Feature FXCM Interactive Brokers
Overall 4 4
FXCM Review Interactive Brokers Review
74-89% of retail CFD accounts lose money 63.5% of retail CFD accounts lose money

Regulation

Feature FXCM Interactive Brokers
Trust Score 90 91
Year Founded
1999 1977
Publicly Traded (Listed)
Yes Yes
Bank
No No
Tier-1 Licenses
3 5
Tier-2 Licenses
2 0
Tier-3 Licenses
0 0
Authorised in the European Union
Yes Yes

Tier-1 Licenses

Feature FXCM Interactive Brokers
ASIC Authorised (Australia)
Yes No
IIROC Authorised (Canada)
Yes Yes
SFC Authorised (Hong Kong)
No Yes
FSA Authorised (Japan)
No Yes
MAS Authorised (Singapore)
No No
FINMA Authorised (Switzerland)
No Yes
FCA Authorised (UK)
Yes Yes
CFTC Registered (USA)
No Yes

Tier-2 Licenses

Feature FXCM Interactive Brokers
CBRC Authorised (China)
No No
CySEC Authorised (Cyprus)
No No
ISA Authorised (Israel)
Yes No
FMA Authorised (New Zealand)
No No
CBR Authorised (Russia)
No No
FSB Authorised (South Africa)
Yes No
SEC Authorised (Thailand)
No No
DFSA / Central Bank Authorised (UAE)
No No

Tier-3 Licenses

Feature FXCM Interactive Brokers
FSC Authorised (British Virgin Islands)
No No
FSC Authorised (Mauritius)
No No
Offshore Authorised
No No

Investments

Feature FXCM Interactive Brokers
Forex: Spot Trading
Yes Yes
Currency Pairs (Total Forex pairs)
39 115
CFDs - Total Offered
24 6100
Cryptocurrency traded as actual
No No
Cryptocurrency traded as CFD
Yes Yes
Offering of Investments 3 4.5
Winner check_circle

Cost

Feature FXCM Interactive Brokers
Average Spread EUR/USD - Standard
1.3 (as of Apr -Jun 18) N/A
All-in Cost EUR/USD - Active
0.8 (as of Nov 18) N/A
Active Trader or VIP Discounts
Yes Yes
Commissions & Fees 3.5 4
Winner check_circle

Funding

Feature FXCM Interactive Brokers
Minimum Initial Deposit
$0.00 $0
Bank Wire (Deposit/Withdraw)
Yes Yes
Visa/Mastercard (Credit/Debit)
Yes No
PayPal (Deposit/Withdraw)
No No
Skrill (Deposit/Withdraw)
Yes No

Trading Platforms

Feature FXCM Interactive Brokers
Proprietary Platform
Yes Yes
Desktop Platform (Windows)
Yes Yes
Web Platform
Yes No
Social Trading / Copy-Trading
Yes No
MetaTrader 4 (MT4)
Yes No
MetaTrader 5 (MT5)
No No
cTrader
No No

Trading Tools

Feature FXCM Interactive Brokers
Virtual Trading (Demo)
Yes Yes
Alerts - Basic Fields
Yes Yes
Watchlists - Total Fields
7 300
Charting - Indicators / Studies (Total)
51 121
Charting - Drawing Tools (Total)
31 9
Charting - Trade From Chart
Yes Yes
Charting - Drawings Autosave
Yes Yes
Order Type - Trailing Stop
Yes Yes
Platform & Tools 4.5 4
Winner check_circle

Mobile Trading

Feature FXCM Interactive Brokers
Android App
Yes Yes
Apple iOS App
Yes Yes
Trading - Forex
Yes Yes
Trading - CFDs
Yes Yes
Alerts - Basic Fields
Yes Yes
Watch List
Yes Yes
Watch List Syncing
Yes Yes
Charting - Indicators / Studies
30 68
Charting - Draw Trend Lines
Yes No
Charting - Trend Lines Moveable
Yes No
Charting - Multiple Time Frames
Yes Yes
Charting - Drawings Autosave
Yes Yes
Forex Calendar
Yes No
Mobile Trading 4 4
Winner check_circle

Research

Feature FXCM Interactive Brokers
Daily Market Commentary
Yes No
Forex News (Top-Tier Sources)
Yes Yes
Weekly Webinars
Yes No
AutoChartist
No No
Trading Central (Recognia)
Yes Yes
Delkos Research
No No
Social Trading / Copy-Trading
Yes No
Social Sentiment - Currency Pairs
Yes No
Economic Calendar
Yes Yes
Research 4 3.5
Winner check_circle

Education

Feature FXCM Interactive Brokers
Has Education - Forex
Yes Yes
Has Education - CFDs
No Yes
Client Webinars
Yes Yes
Client Webinars (Archived)
Yes Yes
Videos - Beginner Trading Videos
Yes No
Videos - Advanced Trading Videos
Yes Yes
Investor Dictionary (Glossary)
Yes Yes
Tutorials/Guide (PDF or Interactive)
Yes Yes
Education 4 4
Winner check_circle

Major Forex Pairs

Feature FXCM Interactive Brokers
GBP/USD
Yes Yes
USD/JPY
Yes Yes
EUR/USD
Yes Yes
USD/CHF
Yes Yes
USD/CAD
Yes Yes
NZD/USD
Yes Yes
AUD/USD
Yes Yes
USDCNH (or CNHUSD)
Yes Yes
USDSGD (or SGDUSD)
Yes Yes

Overall

Feature FXCM Interactive Brokers
FXCM Review Interactive Brokers Review
Overall 4 4
Winner check_circle
After spending several months and hundreds of hours researching 28 different forex brokers for trading FX, our team at ForexBrokers.com team collected over 2,200 data points. For this review, we will compare FXCM vs Interactive Brokers.

To compare these two FX brokers, we will first take a look at the fees charged for trading (no easy task). Not every forex broker publicizes their average spreads, spreads data can vary, as can execution policies and how commissions are charged. Specifically, is the broker a dealing desk (market maker), no dealing desk (agency broker) or are both execution methods offered (dealing desk + STP/ECN)? To simplify this research, we assessed everything for you and provide a single star rating for cost. Interactive Brokers's score is 4.00 stars versus FXCM's 3.50 stars.

Commissions and fees aside, let's take a look at regulation and currency availability. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. FXCM and Interactive Brokers both are regulated in a major hub. FXCM and Interactive Brokers are publicly traded companies. As far as how many currency pairs are available for trading, here's the answer. Interactive Brokers boasts an offering of 115 different currency pairs compared to FXCM's 39 available pairs.

Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. FXCM offers Meta Trader while Interactive Brokers does not. Regardless of the trading platform you use, charting should be feature rich. To help compare these two brokers, we counted the number of drawing tools and total technical indicators made available. FXCM offers its clients access to 31 charting tools while Interactive Brokers has 9 charting tools, a difference of 22. Interactive Brokers offers its clients access to 121 different indicators (for example, volume) while FXCM has 51 available indicators, a difference of 70.

FXCM Review
Interactive Brokers Review


Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published web site as of 02/18/2019 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

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